The country has nearly 1.1 million operating businesses

At the meeting of the National Steering Committee to implement Resolution 68 on private economic development on December 20, Prime Minister Pham Minh Chinh assessed that the Resolution had a clear impact on the development of the business community.

Specifically, the number of businesses and business households entering the market increased sharply. After the Resolution was issued in the middle of this year, on average, more than 18,000 new businesses were established each month, an increase of 38% compared to the average in the first 4 months of the year. Along with that, the whole country had 11,300 businesses returning to operation, an increase of over 46% compared to the average in the first 4 months of the year.

For the whole year, there were more than 300,000 newly established businesses and returned to operation, an increase of over 30%. The total registered capital reached over 6 million billion VND, an increase of more than 71% compared to 2024. The number of business households converted to enterprises in 11 months reached about 3,200 enterprises.

“Thereby, the total number of operating businesses increased to nearly 1.1 million,” the Prime Minister said. Thus, compared to the end of 2024, the country will have about 160,000 more businesses.

According to Resolution 68, Vietnam strives to have 2 million operating businesses by 2030. The private economic sector grows on average 10-12% a year, higher than the GDP growth rate. By 2030, Vietnam will have at least 20 large enterprises participating in the global value chain.

But the Prime Minister also pointed out limitations such as lack of coordination in some places, reform of administrative procedures in some areas and fields has not achieved goals, decentralization and decentralization of power to lower levels has not been thorough. Meanwhile, the impact of Resolution 68 in some fields and areas is still limited. Some direct support policies (tax, credit, production and business premises) have not been fully institutionalized…

The business sector, especially small and micro enterprises and household businesses in some fields, still faces many difficulties and has not really met the development requirements in the new era. In addition, the promotion of large enterprises to participate in the global value chain is not yet uniform and strong.

To overcome this, the Prime Minister requested ministries and branches to soon issue or submit for promulgation in the first quarter of 2026 policy guidelines to support the private economy on land, production premises, interest rates, technology, digital transformation, executive training, legal…

Localities must firmly grasp the situation of businesses in the area, stably operate two-level local authorities, and ensure companionship with businesses.

The Ministry of Finance is assigned to review and propose to the Government specific contents to amend the Law on Support for Small and Medium Enterprises, and research and develop the Law on Individual Business. They must complete the legal framework on corporate bonds, accounting and insurance regimes for micro-enterprises. At the same time, this agency needs to develop a program to support sustainable production and business for businesses, cooperatives, business households…

The Prime Minister also asked ministries and branches to review the Land Law in the direction of controlling land price fluctuations, reserving land funds for the development of industrial zones, clusters, and nurseries. Stakeholders soon complete the land rental support mechanism for some business groups.

In addition, Government leaders also mentioned reviewing and amending regulations on emulation and rewards in the direction of simplifying procedures and expanding forms of honoring typical businesses and entrepreneurs. He noted focusing on rewarding and honoring direct workers, and at the same time researching mechanisms to increase the participation of a team of excellent, dedicated, and capable businessmen participating in the country’s governance.